Why sell now to much on the horizon for QMC share holders.QMC is...

Why sell now to much on the horizon for QMC share holders.

QMC is in serious discussions and negotiations with Joint Venture partners in relation to the White Range Project area and especially the development and production of
copper,and will focus in the near term on the production development of gold on QMC gold properties in our own right and/or with Joint Venture partners.

To develop an exploration strategy focused on the covered areas of the portfolio, in particular the White Range, Jessievale and Duck Creek projects. The target here is a significant new Cu-Au discovery. This opportunity provides the greatest leverage to the upside for QMC shareholders.

QMC is targeting 300,000 tonnes of copper, cobalt equivalents and 300,000 ounces of gold at its various copper and gold projects in the near term.

Following completion of drilling at Young Australian, Flamingo Copper Mine,Mt Freda and Gilded Rose Gold Mine, QMC is compiling JORC mineral resource estimates which should be announced during this quarter.

Morris Creek Copper Project:A -80 mesh soil sampling program was undertaken during the quarter. A total of
619 samples at a grid pattern of 100m x 50m were collected. A preliminary review of the raw dataset indicated the presence of a strong copper in soil anomaly in the southwest part of the tenement plus several smaller anomalies in the northeast and northwest.

Flamingo Copper:A 3 hole RC drill program (600m) has been designed to target down dip extension of the ore zones. A
drilling contractor has been booked and the drilling is expected to commence in early October.

Mt Freda Gold Project:A JORC compliant resource estimation is underway in line with conceptual mine planning and pit optimization. The Company is confident in early cash flow from processing shallow oxide ore from Mt Freda and a pre-feasibility study has been initiated.

Jessievale Copper Project:Drilling is expected to complete in early November.

Young Australian Copper Project:QMC is actively seeking an arrangement with the holder of the EPM that surrounds and is along strike of QMC Young Australian Mining Leases and Eastdrift mining lease.The management of the Company looks forward to updating the shareholders on the status and progress of the project as soon as additional information becomes available.